JP Sinha of Mangal Keshav believes that the main culprit for the market downside is the oil prices. According to him, the market at 13000 levels is attractive for long term investor but for the short term investors, it is quite risky.
He feels that overall year 2008 has not been good and could deteriorate further. He said that both the earning and valuations are declining, therefore the markets can move back to 12000 levels in the short-term.
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